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Orissa HC Quashes TDS Prosecution Citing Payment Acceptance, Financial Distress & COVID-19
Case Law Details
- Case Name
- Sree Metaliks Limited Vs Union of India (Orissa High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Orissa High Court
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Sree Metaliks Limited Vs Union of India (Orissa High Court)
In Sree Metaliks Limited vs. Union of India, the petitioner sought to quash a criminal complaint filed under Sections 276B and 278B of the Income Tax Act, 1961, for delayed deposit of Tax Deducted at Source (TDS) for the financial year 2019-20. The prosecution was based on delays ranging from 15 to 394 days in remitting the collected TDS, despite the company having paid the amount with interest. The petitioner argued that financial distress due to a sluggish iron ore market, insolvency proceedings under the IBC, and disruptions caused...
